All the necessary content has been included with great detail and overall A+ grade achieved. assignment 3 , P5, P6, M3, D3. also with 10+ different references for the work.
Unit 2: RESEARCH AND PLAN A MARKETING CAMPAIGN
Task 3: Develop a plan for a marketing campaign for a new product
P5: Produce a plan for a marketing campaign for a new product in a given market
Objectives:
• Establish a strong market presence, either nationally or internationally.
• Generate demand for the new product range
• Generate fresh customers from a variety of ethnicities and backgrounds.
USP:
Passionate about food ltd offers a distinct selling proposition that distinguishes our
commodities from those of our rivals. Our company utilizes the catchphrase " Middle east's
most cherished ready-to-eat meals" to distinguish our goods as the most well-known and
favoured product among all of our rivals. In addition, with over 45 distinct types of recipes in
our new product range, we provide the most variety in recipes. Furthermore, our ready-to-eat
meals are produced entirely of organic components, which are grown by organic farmers who
excel in their industries. Finally, we don't use any regular plastic in the process of packaging.
Budget:
Our overall budget for this campaign is 20,000 dollars. The campaign will last for about 4.6
months. The daily expenses for advertising through social media such as Instagram and
snapchat is 200 dollars altogether for a month, while emailing will cost 0 dollars. While
influencers writing a positive review will cost 300-400 dollars / a month. Finally, the
production costs for designing, video editing etc will cost 450 dollars. So overall a month it
will cost 1050 dollars, over the 4.6 months it would cost 4830 dollars out the 20,000.
Time:
The time as I mentioned earlier is 4.6 months which is 20 weeks.
Target Market:
Since our new product includes a variety of cuisines loved by nationals from all around the
globe, our business will target customers of many cultures and ethnicities. Young people
spend the majority of their money on handy ready-to-eat foods. Young adults are the easiest
to target for manufacturers of ready-to-eat foods like us. The simplicity of use of such items
contributes to an increase in overall market demand around the world. The flexibility offered
in terms of time savings and the little exertion necessary for the cooking of these meals is
, driving the expansion of the ready meals market, which is preferred by bachelors living alone
between the ages of 17 and 25.
SWOT:
Strength:
• Due to the obvious potential reduction in food waste, it is more financially
sustainable.
• Refrigerated meal options for busy days, late-night job situations, or feeding hungry
family members when you have other commitments.
Weakness:
• It's possible that the cost per serving will be more than if you made it yourself.
• Convenience foods are usually heavy in calories and fat, and they aren't always fresh.
Opportunity:
• The unmet market potential is high in key emerging markets such as China.
• The emergence of the pandemic has caused individuals to purchase ready-meals due
to it being more convenient then eating outside.
Threat:
• There are so many substitute goods that can meet the same needs as our products,
such as various forms of food, that demand for our products will be replaced. For
example, SIDCO foods, which are offered in retail stores and online for the food
industry, has variety of foods that may be used to replace the meals from our frozen
foods.
• The emergence of ‘vegetarianism’ will actively reduce the consumption of meat items
in ready-meals and also the trends that are occurring of healthy lifestyle by
influencers.
MARKETING MIX
Product: The product of Passionate About Food Ltd is the Simply Us and Ours. It features a
variety of meals, each of which is made up of diverse components and prepared in a range of
flavours to suit the tastes of people from many cultures, allowing them to enjoy their
favourite type of foods.
Price: The price of the product won’t be as much as it is a ready-meal product, which is
usually 50 percent cheaper than the usual fresh food. Our items will be priced in a market-
oriented manner, with prices that are both reasonable and within a range of prices set by
business rivals in the same marketplace.
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